Unexpected Pipeline Closure Sent British Gas Soaring 50 Percent

Reuters reported that an unexpected pipeline closure spiked Britain’s wholesale gas prices to a record high on Friday.

As quoted in the market report:

Gas prices for within-day delivery spiked at 150 pence per therm early in the day, more than 50 percent above Thursday’s close, after the pipeline from Belgium that facilitates gas imports from Europe unexpectedly shut down.

To view the whole Reuters report, click here.